FX.co ★ Analysis EUR/NZD for January 24, 2017

Recently, EUR/NZD has been trading downwards. The price tested the level of 1.4820. Using the Ichimoku on the 4H time frame, I found strong resistance levels at the price of 1.4860 (Kijun sen) and 1.4886 (Tenkan sen). The short-term trend is downward. Watch for selling opportunities on the pullback. First downward target is set at the price of 1.4770.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4930

R2: 1.4950

R3: 1.4980

Support levels:

S1: 1.4860

S2: 1.4840

S3: 1.4800

Trading recommendations for today: watch for potential selling opportunities.